CALGARY, ALBERTA–(Marketwired – May 19, 2015) – Canadian Spirit Resources Inc. (“CSRI” or the “Corporation”) (TSX VENTURE:SPI)(OTCBB:CSPUF) announces that it plans to extend the expiry date on 2,555,000 outstanding share purchase warrants (the “Warrants”) for one year, from June 3 and 17, 2015 to June 3 and 17, 2016. The exercise price of $0.50 and all other terms of the Warrants remain unchanged. Each whole warrant entitles the holder to acquire one additional share of the Corporation. This extension is subject to approval by the TSX Venture Exchange.
The extension will enable CSRI to complete and announce the results of the evaluation and production testing program associated with the Montney Formation in the west Farrell Creek/Altares area before the Warrants expire. This program, subject to financing, includes the stimulation and testing of CSRI’s 100% working interest horizontal well located at c-81-H/94-B-1 that was drilled and cased in July 2014. With positive test results, this well will be equipped and tied-in for production. In addition, CSRI plans to drill one additional well in the west Farrell Creek/Altares area during the 2015/2016 winter drilling season.
CSRI is a natural resources company focusing on the identification and development of opportunities in the unconventional natural gas sector of the energy industry. The Corporation has 5 (1.75 net) Montney wells being produced through its 10 MMcf/d (3.5 net) capacity joint venture gas plant located on its western lands at Farrell Creek/Altares, British Columbia.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
Canadian Spirit Resources Inc.